Income and Corporation Taxes Act 1988

280 Transfer of reliefs

(1) Where during any part of a year of assessment a husband and wife are living together but his income for that year does not or, if there were any, would not include any of hers, then if either of them—

(a) would, if he or she had sufficient income for that year, be entitled to have any amount deducted from or set off against it under a provision to which this subsection applies, and

(b) makes a claim in that behalf,

that amount or, as the case may be, so much of it as cannot be deducted from or set off against his or her own income for that year shall instead be deducted from and set off against the income for that year of the other spouse.

(2) Subsection (1) above applies—

(a) in the case of the husband, to any provision of Chapter I of this Part and sections 289 and 353;

(b) in the case of the wife, to—

(i) any provision of that Chapter except sections 257(1)(b), (2)(b) and (3)(b), 258, 259 and 262;

(ii) section 289 but only in respect of amounts subscribed by her for shares issued in the part of the year of assessment mentioned in subsection (1) above; and

(iii) section 353 so far as applicable to interest paid in the part of the year mentioned in subsection (1) above.